Our Wills Service
While it may seem complex and offputting to think about, making a Will is vital. The type of Will you need will depend on your circumstances and your wishes on how you would like your estate to be divided – each Will is unique to the individual. We're here to help by demystifying the jargon and assisting you in making those all-important decisions for the future benefit of your loved ones.
Do I really need a Will?
Everyone should have a Will in place, whether you're rich or poor, single or married, with children or without. Not sure why? Read some of the compelling reasons Wills are important.
What kind of Will do I need?
It is essential to seek professional advice for complete peace of mind that your wishes will be respected after your death. There are lots of different types of Will available. Here is a summary of some of the main types of Will and when you might choose to use them:
- Single or Simple Wills
Single wills are suitable for those whose finances are relatively straightforward, for example, a couple who want to leave all assets to each other or a parent planning for their entire estate to go to a child. A single or simple Will is a cost-effective way to make provisions and put your affairs in order.
- Mirrored Will
These are used when a couple want to have a Will each, but both reflect the terms of the other. For example, everything may be left to the surviving spouse upon the first death, and to any children at the time of the second death. Each party can alter mirrored Wills without the other person's consent; therefore, this may not always be suitable if you want to fully protect your share of any assets from any possible change in circumstances after your death.
- Mutual Wills
In a similar way to mirrored Wills, mutual Wills are drawn up by a couple simultaneously and are dependent upon the terms of each other. The main difference is that the Wills cannot be altered individually. At the time of the first death, their share of assets is treated like a Trust, and the surviving partner is limited in how they can access and use.
Other types of Will include Property Trust Wills, Asset Protection Trust Wills, Life Interest Trust Wills, Discretionary Trust Wills and Statutory Wills. These are all relevant for particular financial and life circumstances and have different implications regarding the treatment of your estate, tax liabilities and more. Our advisors are experienced and qualified experts in drafting Wills of all kinds, whether your affairs are complex or not.
Ready to Take the Next Step?
It's easy to put off making a Will, but none of us are invincible (recent pandemics have shown this), and you never know when it might be needed. We strive to make the entire process simple and stress-free for you, so you can relax in the knowledge that your estate is protected and your wishes will be made known. Contact us today for a no-obligation conversation and to book your consultation.